Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter RH against Variational Omni−0.216%7-day average −0.009% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.236%+$24 · spread now −0.216%, 7d avg −0.009%

Together, before fees+0.237%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board+$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.207% cheaper against Variational Omni than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5187	0.0100	pay 0.0100% / 8h	3h 18m	$4.9M	$38.3M	—
Short	Lighter RH XRP	1.5154	0.0096	get 0.0012% / 1h	18m 33s	$496K	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee Lighter RHbpOrdersPrice spread, now −0.216%Rate

Funding earned: −$0.84
Price spread: −0.216% → −0.009%: −$20.74
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$21.58
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Lighter RH: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 1 min ago	2.01 bp	doesn't fit	4.8 bp −$48	22.1 bp −$2,206	doesn't fit
Sell Lighter RH live order book, 5 min ago	1.32 bp	2.5 bp −$3	6.9 bp −$69	40.4 bp −$4,043	doesn't fit

XRP on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff XRP-PERP	−0.0080%	1h	1.5188	+0.008%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5148	−0.256%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5167	−0.129%	$259K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5164	−0.150%	$7.8M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5161	−0.172%	$14.4M	$74.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.457%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5152	−0.227%	$778K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5156	−0.201%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRPshort	+0.0096%	1h	1.5154	−0.216%	$496K	$3.3M	20x
Katana Perps XRP-USD	+0.0098%	8h	1.5156	−0.203%	$9K	$351K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5151	−0.233%	$983K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5157	−0.194%	$38.9M	$85.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5154	−0.214%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5152	−0.232%	$535.0M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5159	−0.183%	$345.1M	$945.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5161	−0.170%	$126.1M	$883.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5163	−0.157%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5159	−0.183%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	−0.147%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5152	−0.229%	$372.1M	$156.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5166	−0.137%	$296.1M	$906.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5156	−0.202%	$109.2M	$178.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5159	−0.183%	$269.2M	$390.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5151	−0.236%	—	$127.7M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5187	long leg	$4.9M	$38.3M	—
edgeX XRPUSDC	+0.0100%	4h	1.5180	−0.042%	$659K	$110.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5170	−0.112%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5199	+0.080%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5160	−0.177%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5170	−0.111%	$46K	$478K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5166	−0.136%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5153	−0.223%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5155	−0.208%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5159	−0.183%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5159	−0.183%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5157	−0.195%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5161	−0.170%	$53.9M	$31.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5150	−0.245%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5147	−0.260%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5156	−0.203%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5161	−0.170%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5168	−0.124%	$5.8M	$47.9M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5159	−0.182%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5158	−0.190%	$24.2M	$75.7M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0254%	1h	1.5170	−0.111%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0264%	8h	1.5173	−0.091%	$1.9M	$35.2M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5155	−0.209%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5157	−0.195%	$516K	$776K	10x	as long as short
Hyperliquid XRP	+0.0410%	1h	1.5175	−0.078%	$298.1M	$251.3M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.021%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0650%	1h	1.5174	−0.082%	$2K	$15K	10x	as long as short